Why Baidu Is Soaring Today
Shares of Chinese tech giant (NASDAQ: BIDU) were soaring on Friday, up 13.1% as of 12:00 p.m. EDT, with "China's Google" reaching its highest stock price since mid-2023.
The catalyst for today's move was Baidu's confidential filing for an initial public offering of its in-house semiconductor chip design firm, Kunlunxin.
The move is thought to unlock value for the tech conglomerate, which may be undervalued based on a sum-of-the-parts calculation.
Source Fool.com
Baidu Inc. A ADR Aktie
121,20 €
-3,66 %
Klares Buy-Übergewicht bei der Baidu Inc. A ADR Aktie mit 30 zu 2 Einschätzungen.
Für Baidu Inc. A ADR ergibt sich ein leicht positives Potenzial, angesichts eines Kursziels von 130 € im Vergleich zu 121.2 €.
